Cycle Trading

[JLS]

RIG -- Transocean’s strongest backlog.

Or why I haven't sold CCs on RIG recently:

Backlog-to-revenue ratio

Not all offshore drilling (XLE) companies are the same size, which means that some companies’ backlogs are a few million while others’ backlogs are a few billion. This difference makes it hard to compare companies, and so it’s better to compare backlog as a percentage of revenue. The higher the backlog-to-sales ratio, the better the future revenues.

Transocean (RIG) secured two new contracts in the second quarter. RIG is the only company whose backlog-to-revenue ratio has risen from 1Q16, with a ratio of 239% — the highest among peers. It has increased from 218% from the previous quarter. Diamond Offshore also has a ratio above 200%, and Seadrill Partners (SDLP) and Noble (NE) have ratios above 150%.

http://marketrealist.com/2016/09/transocean-has-highest-backlog-of-its-peers/?utm_source=yahoo&utm_medium=feed&yptr=yahoo